Deltic Timber buys rest of fiberboard plant

2/13/2013 4:15 PM
By Associated Press

EL DORADO, Ark. (AP) — Deltic Timber Corp. agreed to buy the remaining interest in a fiberboard plant and will own the entire facility with the completion of the $20 million transaction.

The El Dorado-based company announced Wednesday that it is to buy a 50 percent interest in Del-Tin Fiber LLC.

Del-Tin owns and operates the medium density fiberboard plant in El Dorado.

Deltic has owned half of the facility since it was built in 1998.

Deltic President and CEO Ray C. Dillon says the acquisition fits with Deltic's strategy of growing through strategic acquisition.

Deltic owns more than 450,000 acres of timberland, operates two sawmills, and is engaged in real estate development.

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